Thanks EG
I just trawled through UOADB announcements to get some clarity.
UOADB set up their DRS/DRP in May 2012. Prior to this, UOS increased their stake in UOADB via a series of on market purchases.
After setup of the DRS, UOA have participated, acquiring around 60 million UOADB shares on 10 August 2012. Presumably they will continue to participate. DRP participation forms have already been sent out for the 12sen dividend payable on 6 August.
UOS participation means low dividends to UOS holders, but should compound value strongly over the long term in much the same way that large holders of UOS have been reinvesting and compounding their value for many years.
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